Merger potential appeals to Aveva

After describing Aveva’s (AVV) impending merger with its French industrial software peer Schneider Electric as “transformational”, chairman Philip Aiken has put his money where his mouth is. He and three fellow directors (including current chief executive James Kidd) spent a total of £240,000 on 9,800 shares in the company on the same day that 99 per cent of its investors voted in favour of the deal.